Powell Says Tax Cuts to Support Economy for at Least Next Two Years

The transcript discusses the 2.6% economic growth estimate and improvements in confidence levels in 2017, partly due to anticipated tax reforms. It highlights the expected support from tax and spending bills for the next few years, which may boost demand and investment, leading to higher productivity. However, these estimates are uncertain in terms of amount and timing.

What was the current estimate of economic growth mentioned in the text?

What significant improvements were observed in household and business confidence?

How did the anticipation of tax cuts and tax reform affect the growth rate in 2017?

What expectations were set regarding the impact of the tax and spending bills on demand?

What uncertainties are associated with the estimates mentioned in the text?